Themes from September

Federal Reserve raised the Federal Funds rate 0.25% to 2%-2.25% citing a strong economy that no longer needed monetary stimulus.

Italy ignored Brussels’ demands for budgetary restraint and voted to increase spending. The new budget led to a spike in Italian yields to 3.2% as the new Italian leadership promised to wipe out poverty.

Barrick Gold is to acquire Randgold Resources in an all share merger that will combine the boards of the two companies. Post-merger Barrick Group will be listed in NY and Toronto.

Jeremy Corbyn is embracing green energy and wants thousands more windfarms and a solar panel on every viable roof, alongside a tax on second homes.

Goldman Sachs is to launch an easy access savings account via its “Marcus” branch. The new UK savings account offers 1.5% interest to account holders.

Derivatives focused brokers had a poor month. CMC Markets now expects net operating income 20% lower whilst IG’s CEO stepped down after a weak Q1 due to client inactivity and low returns.

Aston Martin IPO will be priced in a range of 1750p-2250p implies a market value of £4bn-£5.07bn.

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